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Nigeria Loses $25bn to Foreign Ship Owners in 2 Years

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  • Nigeria Loses $25bn to Foreign Ship Owners in 2 Years

The Executive Secretary of Nigerian Shippers Council (NSC), Mr Hassan Bello, on Friday said Nigeria lost $25 billion to foreign ship owners between 2015 and 2017.

Mr Bello, who was on a courtesy visit to the Ministry of Budget and National Planning in Abuja, further stated that over $9.08 billion was paid to foreign ship owners as freight for dry and wet cargoes in 2015.

According to the Executive Secretary, the trend started years ago, saying over $7.55 billion was lost to foreign shipping firms in 2016.

Again, a total of $8.60 billion worth of freight opportunity was lost from import and export of dry and wet cargoes in 2017. Bringing total lost to $25.23 billion within two years.

“As a result of this, the Federal Ministry of Transportation, through the Minister of Transportation, Rotimi Amaechi, set up a committee for the Nigerian fleet implementation,” Bello said.

The committee was set up to examine the chances of using existing shipping firms to run a Nigerian fleet and provide a framework for establishing a shipping firm.

However, Mr Bello said for government to gain from the programme, a conducive business environment backed with a strong political will and comprehensive incentives must be put in place to aid operators.

He said because the Ministry of Budget and National Planning played a vital role in fiscal policy formulation, therefore, it is imperative the NSC visit the ministry.

Speaking on the matter, Minister of Budget and National Planning, Senator Udo Udoma, said all the issues raised will be addressed as the ministry will be working with relevant agencies to resolve the issues.

The Minister stated, “We will work with the Ministry of Industry, Trade and Investment as well as the Ministry of Finance to try and ensure that we address those issues. It is important that your work succeeds.”

“It is very important because, firstly, there is a need for this country to generate more revenue; there is the need to see if we can expand the Nigeria fleet, the work and the cargoes that they carry.”

Udoma added, “We will be saving ourselves foreign exchange and we will be able to generate funds in foreign exchange as well. So, it is very important to create an expansion for Nigerian fleet.”

“We will also be creating jobs for Nigerians. When we expand the fleet, we will also be expanding our transport infrastructure; you can be sure of our strong active support from this ministry.”

Reporting by Betty Chigozirim in Abuja; Editing by Samed Olukoya

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Billionaire Jay-Z’s Net Worth Jumps 40% With Sales Of Streaming Service Tidal, Champagne Brand

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Jack Dorsey and Jay-Z

Over the past two weeks, the rapper struck deals to sell his boutique music streaming service and half of his champagne brand Armand de Brignac, adding an enormous pile of cash to his already massive fortune.

“Hip-hop from the beginning has always been aspirational,” Jay-Z said in 2010 when Forbes got a ringside seat to the rapper’s first meeting in Omaha with billionaire investor Warren Buffett. “It always broke that notion that an artist can’t think about money as well.”

More than a decade later, the rapper-turned-billionaire is showing exactly what he means: In his second major deal in as many weeks, Jay-Z inked a deal to sell  a majority stake in music streaming company Tidal to Jack Dorsey’s mobile payment company Square for $297 million. The transaction valued the company at about $450 million—$150 million more than Forbes’ 2019 estimate. Forbes figures he netted out $149 million in cash and stock—and got a board seat—after buying back 33% of Tidal from T-Mobile earlier this week and then selling that and the third he already owned. Tidal’s “artist shareholders” will continue to have a stake in the company, and Jay-Z will own a small percentage, as well.

This comes a week after he sold half of his Armand de Brignac champagne to LVMH in a deal that valued the luxury liquor company at about $640 million.

The two deals helped lift the fortune of hip-hop’s first billionaire to $1.4 billion, up from $1 billion.

It’s just the start.  His diverse and growing business includes the remaining 50% stake in the $300-per-bottle Armand de Brignac, as well as D’Usse cognac and a collection of less-sexy startups including insurance startup Ethos and salad chain Sweetgreen. He also owns a chunk of his own music, shares multiple multi-million dollar mansions with his wife Beyoncé and has a growing art collection.

In 2005 he laid down the now prophetic lyric, “I’m not a businessman, I’m a business, man.”

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“In Less Than 24 Hours 2.3 Million Nigerians Registered to Receive COVID-19 Vaccination”- NPHCDA

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COVID-19 Vaccine

Over 2 Million Nigerians Have Self-registered for COVID-19 Vaccine on The NPHCDA Online Portal

On Wednesday, Nigeria’s primary healthcare agency boss, Faisal Shuaib, said that over 2 million Nigerians have registered to receive the Astrazeneca COVID-19 vaccine.

He said, “In less than 24 hours, 2.3 million Nigerians have registered to take the vaccines and the numbers keep increasing,”

According to the National Primary Health Care Development Agency (NPHCDA) tweet on Monday, a healthcare worker, Osindeinde Ademilayo Abodede, was the first person to register for the vaccine. Her appointment has been scheduled for March 12 in Abuja.

The self-registration online portal was launched a day before the first batch of COVID-19 vaccines arrived in the country.

The agency said Healthcare workers will be given priority in the administration of the COVID-19 vaccine.

NPHCDA also stated that high priority will be given to “frontline workers” such as members of the military, police, Nigerians who are working at border posts, oil and gas workers, and “strategic leaders.”

Faisal Shuaib said, “As the vaccines arrive in batches due to limited supply we will inform Nigerians about who and where to receive the vaccine,”

“States without a functional airport will have their vaccines transported by road using vans with fitted cold cabins, from the nearest airport,” he added.

Boss Mustapha, Nigeria’s secretary-general urged traditional rulers, religious leaders, civil society groups, and the media to spread the message that vaccinations were needed. “This is a fight for everyone.” He said.

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How to Self-register For COVID-19 Vaccine in Nigeria

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COVID-19 Vaccine Self-registration Process in Nigeria

Following the delivery of the 3.92 Million AstraZeneca vaccine to Nigeria on the 2nd of March, Nigeria’s Primary Health Care Development Agency (NPHCDA) has launched an online self-registration portal for COVID-19 vaccine registration.

How to register

Nigerians who want to self-register for the AstraZeneca vaccine can visit the NPHCDA’s portal for registration.

What do you need to fill the form?

To fill the vaccination form, you need your basic information: full name, contact phone number, email address, date of birth, sex, a form of ID, a residential address including states, LGA of residence, and ward of residence.

You are also required to select your preferred vaccination site from the listed available vaccination site in your area and upload a photograph. The form asks if you work in the health sector and if you have any medical conditions or a history of allergies.

Finally, you are required to type in a code and this completes your registration process.

You should receive a message that your registration has been completed. You will also be issued a vaccination ID. The message goes thus:

“Registration Completed! Your Vaccination ID is: XXXX

Your data is successfully received.

Thank you for taking the time to fill the form, you will receive an SMS and email shortly containing your Vaccination No. and other instructions.”

Who is eligible to receive the vaccination?

Healthcare workers top the list of people who will receive the vaccine first. Away from them, the NPHCDA said it will prioritize “frontline workers – the military, police, oil and gas workers, customs workers, and strategic leaders.”

Under the COVID-19 Vaccine Global Access (COVAX) scheme,  Nigeria will be the third African country to receive a vaccine, after Ghana and Ivory Coast.

It is reported that the vaccine will be administered without charges and the country is expected to receive a total of 16million free doses from COVAX in the coming months.

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